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UK mortgage approvals fall to lowest since 2009, excluding pandemic

Published 03/01/2023, 04:45 AM
Updated 03/01/2023, 04:50 AM
© Reuters. FILE PHOTO: A man walks past houses ‘For Sale’ in a residential street in London, Britain, September 27, 2022. REUTERS/Hannah McKay

LONDON (Reuters) - British lenders approved the lowest number of mortgages in January since 2009, excluding a slump at the start of the COVID-19 pandemic, according to Bank of England data published on Wednesday.

© Reuters. FILE PHOTO: A man walks past houses ‘For Sale’ in a residential street in London, Britain, September 27, 2022. REUTERS/Hannah McKay

A total of 39,637 mortgages for house purchase were approved, down from an upwardly revised 40,540 in December.

A Reuters poll of economists had pointed to around 38,000 approvals in January.

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